India’s Snapdeal Looks to Join the $1 Billion Club

Snapdeal.com, a New Delhi-based e-commerce site, is in the process of raising a $100 million funding round that could give it a valuation of $750 million to $1 billion, according to a person familiar with the situation.

Snapdeal operates a marketplace similar to eBay’s, though it is primarily for

businesses, rather than individual sellers. EBay led a $50 million investment in Snapdeal in June that at the time valued the company at around $250 million, and the two companies have been sharing listings across their two sites.